Solana (SOL) is currently trading within a crucial technical demand zone between $118 and $138.40, presenting a pivotal moment for its near-term price direction. According to analysis from More Crypto Online, this zone represents a major support band where the market must demonstrate robust buyer demand to prevent further structural decline.
Technical analysts are divided on the potential outcome. One perspective, labeled the "white scenario," suggests the broader B-wave correction could complete within this support region, establishing a definitive low and paving the way for a powerful C-wave rally toward previous cycle highs. However, the analyst notes that the recovery from recent lows lacks the characteristics of an impulsive advance, making a deeper dip the more realistic path. Under this "orange scenario," the ongoing A-B-C corrective pattern could extend further, potentially testing the $81 to $90 zone.
Contrasting this bearish outlook, other technical developments show short-term bullish signals. SOL has recently broken above a descending wedge pattern, trading at $138.40 with a 4.5% increase in the latest session. The price successfully retested the former resistance line and is holding above the $128.26 support level. This breakout has reshaped the short-term technical picture, shifting focus toward the next resistance zone at $156.13.
The 24-hour trading range has been relatively narrow, between $128.26 and $138.98, indicating reduced pressure within the wedge structure before the breakout. The 4-hour chart shows continued interest near the mid-range zone, preventing a drift back toward lower boundaries. Market observers now watch whether momentum can sustain toward the $156.13 resistance cluster, which previously acted as a significant barrier during earlier price attempts.
ETH
XRP
RLUSD
LINK
BTC
PYUSD
USDC